Utilities SPDR Quietly Challenges October High

The Utilities SPDR (XLU) bottomed along with the broader market in mid November and advanced the last three months, but the advance has lagged in more ways than one. XLU is up less than SPY and SPY is already above its October high. Nevertheless, XLU is in a clear uptrend and poised to break the October high. The Aroon oscillator turned bullish back in mid December and remains strong.

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